[Federal Register Volume 86, Number 203 (Monday, October 25, 2021)]
[Notices]
[Pages 59002-59004]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-23199]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Multiple Departmental Offices Information
Collection Requests
AGENCY: Departmental Offices, Department of the Treasury.
ACTION: Notice.
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SUMMARY: The Department of the Treasury will submit the following
information collection requests to the Office of Management and Budget
(OMB) for review and clearance in accordance with the Paperwork
Reduction Act of 1995, on or after the date of publication of this
notice. The public is invited to submit comments on these requests.
DATES: Comments should be received on or before November 24, 2021 to be
assured of consideration.
[[Page 59003]]
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Molly Stasko by emailing [email protected], calling (202)
622-8922, or viewing the entire information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
1. Title: Treasury International Capital Form S, Purchases and
Sales of Long-term Securities by Foreign-Residents.
OMB Control Number: 1505-0001.
Type of Review: Extension without change of a currently approved
collection.
Description: Form S is part of the Treasury International Capital
(TIC) reporting system, which is required by law (22 U.S.C. 286f; 22
U.S.C. 3103; E.O. 10033; 31 CFR 128), and is designed to collect timely
information on international portfolio capital movements. Form S is a
monthly report used to cover transactions in long-term marketable
securities undertaken directly with foreigners by banks, other
depository institutions, brokers, dealers, underwriting groups, funds
and other individuals and institutions. This information is used by the
U.S. Government in the formulation of international financial and
monetary policies and for the analysis of the U.S. international
transactions (balance of payments).
Form: Form S.
Affected Public: Businesses or other for-profit institutions.
Estimated Number of Respondents: 185.
Frequency of Response: Monthly.
Estimated Total Number of Annual Responses: 2,220.
Estimated Time per Response: Six and three-fourth hours per
respondent per filing. The estimated average time per filing varies
from 11.8 hours for the approximately 30 major reporters to 5.9 hours
for the other reporters.
Estimated Total Annual Burden Hours: 15,010 hours.
2. Title: Treasury International Capital (TIC) Form SHL/SHLA,
``Survey of Foreign-Residents' Holdings of U.S. Securities, including
Selected Money Market Instruments''.
OMB Control Number: 1505-0123.
Type of Review: Extension without change of a currently approved
collection.
Description: This form collects foreign-residents' holdings of U.S.
securities. These data are used by the U.S. Government in the
formulation of international financial and monetary policies, and for
the computation of the U.S. international transactions (balance of
payments) and of the U.S. international investment position. These data
are also used to provide information to the public and to meet
international reporting commitments. The data collection includes large
benchmark surveys (Form SHL) conducted every five years, and smaller
annual surveys (Form SHLA) conducted in the non-benchmark years. The
data collected under an annual survey are used in conjunction with the
results of the preceding benchmark survey and of recent TIC form SLT
(``Aggregate Holdings of Long-Term Securities by U.S. and Foreign
Residents'') reporting to make economy-wide estimates for that non-
benchmark year. Currently, the determination of who must report in the
annual surveys is based primarily on the data submitted during the
preceding benchmark survey and on data submitted on SLT reporting. The
data requested in the annual survey will generally be the same as
requested in the preceding benchmark report. Form SHL is used for the
benchmark survey of all significant U.S.-resident custodians and U.S.-
resident issuers of securities regarding foreign-residents' holdings of
U.S. securities. In non-benchmark years, Form SHLA is used for the
annual surveys of primarily the largest U.S.-resident custodians and
issuers.
Form: TIC SHL/SHLA, Schedules 1 and 2.
Affected Public: Businesses or other for-profit institutions.
Estimated Number of Respondents: 317 on average annually, but this
varies widely from about 840 in benchmark years (once every five years)
to about 185 in other years (four out of every five years).
Frequency of Response: Annually.
Estimated Time per Response: 133 hours on average annually, but
this will vary widely from respondent to respondent. (a) In the year of
a benchmark survey, which is conducted once every five years, it is
estimated that exempt respondents will require an average of 17 hours;
for custodians of securities, the estimate is a total of 321 hours on
average, but this figure will vary widely for individual custodians;
and for issuers of securities that have data to report and are not
custodians, the estimate is 61 hours on average. (b) In a non-benchmark
year, which occurs four years out of every five years, it is estimated
that the largest custodians of securities will require a total of 486
hours on average; and for the largest issuers of securities that have
data to report and are not custodians, the estimate is 110 hours on
average. The exemption level for custodians and for issuers of
securities filing Schedule 2 for a benchmark survey is the holding on
June 30 of less than $200 million in reportable U.S. securities owned
by foreign residents.
Estimated Total Annual Burden Hours: 42,035 hours.
3. Title: Treasury International Capital (TIC) Form SHC/SHCA ``U.S.
Ownership of Foreign Securities, including Selected Money Market
Instruments.''
OMB Control Number: 1505-0146.
Type of Review: Revision of a currently approved collection.
Description: Form SHC/SHCA is part of the Treasury International
Capital (TIC) reporting system, which is required by law (22 U.S.C.
3101 et seq.; E.O. 11961; 31 CFR 129) and is used to conduct annual
surveys of U.S. residents' ownership of foreign securities for
portfolio investment purposes. These data are used by the U.S.
Government in the formulation of international financial and monetary
policies, and for the computation of the U.S. international
transactions (balance of payments) and of the U.S. international
investment position. These data are also used to provide information to
the public and to meet international reporting commitments. The SHC/
SHCA survey is part of an internationally coordinated effort under the
auspices of the International Monetary Fund to improve data on
securities worldwide. Most of the major industrial and financial
countries conduct similar surveys.
The data collection includes large benchmark surveys (Form SHC)
conducted every five years, and smaller annual surveys (Form SHCA)
conducted in the non-benchmark years. The data collected under an
annual survey are used in conjunction with the results of the preceding
benchmark survey and of recent TIC form SLT (``Aggregate Holdings of
Long-Term Securities by U.S. and Foreign Residents'') reporting to make
economy-wide estimates for that non-benchmark year. Currently, the
determination of who must report in the annual surveys is based
primarily on the data submitted during the preceding benchmark survey
and on data submitted on SLT reports. The data requested in the annual
survey will generally be the same as requested in the preceding
benchmark report. Form SHC is used for the benchmark survey
[[Page 59004]]
of all significant U.S.-resident custodians and end-investors regarding
U.S. ownership of foreign securities. In non-benchmark years Form SHCA
is used for the annual surveys of primarily the very largest U.S.-
resident custodians and end-investors.
Form: SHC/SHCA, Schedules 1, 2 and 3.
Affected Public: Businesses or other for-profit institutions.
Estimated Number of Respondents: 324 on average annually, but this
varies widely from about 760 in benchmark years (once every five years)
to about 215 in other years (four out of every five years).
Frequency of Response: Annually.
Estimated Time per Response: 200 hours on average annually, but
this will vary widely from respondent to respondent. (a) In the year of
a benchmark survey, which is conducted once every five years, it is
estimated that exempt respondents will require an average of 17 hours;
custodians of securities providing security-by-security information
will require an average of 361 hours, but this figure will vary widely
for individual custodians; end-investors providing security-by-security
information will require an average of 121 hours; and end-investors and
custodians employing U.S. custodians will require an average of 41
hours. (b) In a non-benchmark year, which occurs four years out of
every five years: Custodians of securities providing security-by-
security information will require an average of 546 hours (because only
the largest U.S.-resident custodians will report), but this figure will
vary widely for individual custodians; end-investors providing
security-by-security information will require an average of 146 hours;
and reporters entrusting their foreign securities to U.S. custodians
will require an average of 49 hours. The exemption level for custodians
and for end-investors filing Schedule 2 or 3 or both for a benchmark
survey is the holding at end-year of less than $200 million in
reportable foreign securities owned by U.S. residents. For Schedule 2,
end-investors should exclude securities that are held with their
unaffiliated U.S.-resident custodians.
Estimated Total Annual Burden Hours: 64,700 hours.
4. Title: Treasury International Capital Form D, ``Report of
Holdings of, and Transactions in, Financial Derivatives Contracts with
Foreign Residents.''
OMB Control Number: 1505-0199.
Type of Review: Extension without change of a currently approved
collection.
Description: Form D is part of the Treasury International Capital
(TIC) reporting system, which is required by law (22 U.S.C. 286f; 22
U.S.C. 3103; E.O. 10033; 31 CFR 128), and is designed to collect timely
information on international capital movements other than direct
investment by U.S. persons. Form D is a quarterly report used to cover
holdings and transactions in derivatives contracts undertaken between
foreign resident counterparties and major U.S.-resident participants in
derivatives markets. This information is used by the U.S. Government in
the formulation of international financial and monetary policies and
for the preparation of the U.S. international transactions (balance of
payments) and the U.S. international investment position.
Form: Form D.
Affected Public: Businesses or other for-profit institutions.
Estimated Number of Respondents: 29.
Frequency of Response: Quarterly.
Estimated Time per Response: 30 hours.
Estimated Total Annual Burden Hours: 3,480 hours.
Authority: 44 U.S.C. 3501 et seq.
Dated: October 20, 2021.
Molly Stasko,
Treasury PRA Clearance Officer.
[FR Doc. 2021-23199 Filed 10-22-21; 8:45 am]
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